The crypto space is currently undergoing a notable change from the previous day’s trend as most of the crypto assets are trying to stabalize a significant uptrend. As most of the altcoins are trading in the green zone, the present-day trade may also witness a healthy consolidation or a minor recovery from the previous day’s loss.
Bitcoin price has flipped the lower support a couple of times and hence forming a double bottom pattern. However, the BTC price may rise towards the $40,500 resistance, completing the ‘w-shaped’ pattern. Further, a notable upswing may be ignited towards the immediate resistance towards $42,500 until the end of the day’s trade.
The ETH price is currently within a bearish trend as the asset is constantly forming a couple of bearish flags. Despite a minor flip, the price is still within the bearish divergence and could drop hard to reach the lower support below $3000. The Ethereum price may slip down to $2800 if the bearish flag breaks out by the end of the day’s trade
Cardano (ADA) price is also manifesting a similar trend by forming constant lower highs and lower lows, forming bearish flags. And hence despite a recovery toward the local highs, the possibility of a strong dump emerges. Therefore, achieving $1 may be a tedious job at present as the descending trend prevails hard.
XRP price amid the recent price slash dropped below the symmetrical triangle manifesting a bearish trend. However, the price is attempting a rebound and hovering along with the immediate lower support around $0.7134. The asset may continue to consolidate along with these levels and eventually break the consolidation and pull a massive leg up irrespective of the direction.